KeyCorp (NYSE:KEY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $19.00 target price on the financial services provider’s stock. Zacks Investment Research’s target price would indicate a potential upside of 8.45% from the company’s previous close.

According to Zacks, “KeyCorp’s persistent growth in loans and deposits are expected to aid top-line growth. Moreover, management expects the First Niagara deal to result in earnings accretion of approximately 5% in 2017. Further, the company’s consistent efforts to streamlining operations and diversifying products are likely to keep the overall expense stable in the near term. Also, improving credit quality and steady capital deployment activities continue to be major positives for the company. However, persistent pressure on net interest margin owing to low interest rate environment continue to be a major near-term concern. In addition, exposure to risky loans and heightened regulatory restrictions make us apprehensive.”

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of KeyCorp in a report on Wednesday, October 12th. Standpoint Research downgraded KeyCorp from a “buy” rating to a “hold” rating in a report on Monday. Wedbush reiterated an “outperform” rating and issued a $16.00 price objective (up previously from $15.00) on shares of KeyCorp in a report on Friday, October 28th. Vetr upgraded KeyCorp from a “buy” rating to a “strong-buy” rating and set a $14.14 price objective on the stock in a report on Thursday, October 13th. Finally, Citigroup Inc. downgraded KeyCorp from a “buy” rating to a “neutral” rating in a report on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.84.

Analyst Recommendations for KeyCorp (NYSE:KEY)

Shares of KeyCorp (NYSE:KEY) opened at 17.435 on Wednesday. KeyCorp has a one year low of $9.88 and a one year high of $17.57. The firm has a 50-day moving average price of $14.38 and a 200 day moving average price of $12.62. The firm has a market cap of $18.84 billion, a P/E ratio of 20.086 and a beta of 1.00.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, October 25th. The financial services provider reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. KeyCorp had a return on equity of 8.44% and a net margin of 15.72%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, analysts forecast that KeyCorp will post $1.10 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 29th will be paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, November 25th. KeyCorp’s dividend payout ratio (DPR) is 39.08%.

Institutional investors have recently modified their holdings of the company. First Quadrant L P CA increased its position in shares of KeyCorp by 17,934.5% in the second quarter. First Quadrant L P CA now owns 1,046,000 shares of the financial services provider’s stock worth $11,558,000 after buying an additional 1,040,200 shares during the period. Regentatlantic Capital LLC acquired a new position in shares of KeyCorp during the second quarter worth about $134,000. Fox Run Management L.L.C. increased its position in shares of KeyCorp by 14.5% in the second quarter. Fox Run Management L.L.C. now owns 28,500 shares of the financial services provider’s stock worth $315,000 after buying an additional 3,600 shares during the period. Nisa Investment Advisors LLC increased its position in shares of KeyCorp by 5.2% in the second quarter. Nisa Investment Advisors LLC now owns 209,300 shares of the financial services provider’s stock worth $2,313,000 after buying an additional 10,355 shares during the period. Finally, Douglass Winthrop Advisors LLC increased its position in shares of KeyCorp by 10.2% in the second quarter. Douglass Winthrop Advisors LLC now owns 547,321 shares of the financial services provider’s stock worth $7,121,000 after buying an additional 50,800 shares during the period. 71.65% of the stock is owned by institutional investors and hedge funds.

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About KeyCorp

KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.

5 Day Chart for NYSE:KEY

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